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by Stockwatch Business Reporter
New York spot gold fell $9.60 to $1,274.90 on Friday. The TSX Venture Exchange gained 3.28 points to 796.48 while the TSX Gold Index slipped 2.18 points to 192.50. Klondex Mines Ltd. (KDX), which reported a $13.4-million (U.S.) third quarter loss late Thursday, tumbled 49 cents to $3.16 on 3.81 million shares today.
Fahad Tamimi and Claudio Ciavarella's Kerr Mines Ltd. (KER), up 1.5 cents to 32 cents on 183,000 shares, is offering 16.67 million shares at 30 cents. The $5-million that Kerr is seeking is for continuing exploration at the company's high-grade Copperstone gold project in Arizona. Mr. Ciavarella, chief executive officer, says that the financing represents "another positive milestone" in advancing Copperstone. He says that with a first phase of exploration now complete, Kerr is working toward delivering an updated resource estimate and a prefeasibility study for the project early next year.
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